Experts predict a decline in new car sales in Russia
- October 9, 2023
- 0
Despite the stable growth of the luxury segment, official dealers predict an overall decline in new passenger car sales. If we talk about the Russian market as a
Despite the stable growth of the luxury segment, official dealers predict an overall decline in new passenger car sales. If we talk about the Russian market as a whole, then in October-December it is expected to decline by 5-10% compared to the result of July-September.
As RIA Novosti reports, citing data from the Russian Automobile Dealers Association (ROAD), sales of new passenger cars are expected to decline by about 5-10% in the fourth quarter compared to the third quarter. If in July-September this year 315,700 cars were sold in the Russian Federation, then in October-December the volume will be at best 300 thousand units.
— We should not expect rosy forecasts for the car market in the fourth quarter. This has three main reasons: an increase in the recycling fee, an increase in Central Bank interest rates, which makes loans and leasing programs more expensive, and in addition, the weakening of the ruble itself. An optimistic forecast is that the car market will remain at the level of the third quarter, but a realistic forecast is a decline of around 5-6%, perhaps even 10%, according to the ROAD.
But on an annual basis, there will be an increase in the car market in the fourth quarter, approximately doubling.
“We will of course break records based on 2022, because this has been a critically low base for the past ten years,” the association emphasizes.
As RIA Novosti reports, citing data from the Russian Automobile Dealers Association (ROAD), sales of new passenger cars are expected to decline by about 5-10% in the fourth quarter compared to the third quarter. If in July-September this year 315,700 cars were sold in the Russian Federation, then in October-December the volume will be at best 300 thousand units.
— We should not expect rosy forecasts for the car market in the fourth quarter. This has three main reasons: an increase in the recycling fee, an increase in Central Bank interest rates, which makes loans and leasing programs more expensive, and in addition, the weakening of the ruble itself. An optimistic forecast is that the car market will remain at the level of the third quarter, but a realistic forecast is a decline of around 5-6%, perhaps even 10%, according to the ROAD.
But on an annual basis, there will be an increase in the car market in the fourth quarter, approximately doubling.
“We will of course break records based on 2022, because this has been a critically low base for the past ten years,” the association emphasizes.
Source: Avto Vzglyad
Donald Salinas is an experienced automobile journalist and writer for Div Bracket. He brings his readers the latest news and developments from the world of automobiles, offering a unique and knowledgeable perspective on the latest trends and innovations in the automotive industry.
